Full salary, No work? McKinsey offers career coaching and paid leave for 9 months to depart

Management consulting firm McKinsey is offering career coaching services and nine months’ worth of pay to employees interested in departing the company, reported British newspaper The Times.

This move by McKinsey is its latest effort to decrease its workforce in response to a downturn in the sector. Managers in the UK division are being offered the opportunity to devote up to nine months to a “job search” period.

During this time, the employees involved can use their working hours to seek new job opportunities instead of working on client projects.

They will still receive their full salary during this period, which could add up to hundreds of thousands of pounds if they use the entire nine-month period.

In addition to receiving their salary, managers will also have access to McKinsey’s resources and career coaching services, as reported by The Times. However, staff members would still need to leave McKinsey even if they are unable to find a new job during this period.

McKinsey has previously attempted to reduce its workforce amid a downturn in the consulting industry. Last year, the company announced plans to cut approximately 1,400 jobs, which accounts for around 3% of its workforce, according to Bloomberg.

Additionally, in February, Bloomberg reported that McKinsey had given poor performance ratings to 3,000 employees. These employees are given around three months to improve their performance, or they may be advised to leave the company.